Perficient (NASDAQ:PRFT) Sets New 1-Year Low at $50.38

Perficient, Inc. (NASDAQ:PRFT) hit a new 52-week low during trading on Friday . The company traded as low as $50.38 and last traded at $50.70, with a volume of 15571 shares traded. The stock had previously closed at $51.68.

Analysts Set New Price Targets

PRFT has been the topic of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Scotiabank dropped their price objective on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Guggenheim started coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.00.

Perficient Stock Down 4.5 %

The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The business’s 50 day moving average is $61.97 and its 200-day moving average is $62.66. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.26 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last announced its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same period last year, the firm earned $0.98 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 in the last 90 days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRFT. GAMMA Investing LLC purchased a new position in shares of Perficient during the 4th quarter worth $28,000. Parallel Advisors LLC raised its holdings in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares during the period. NBC Securities Inc. purchased a new stake in Perficient in the 3rd quarter valued at about $38,000. Principal Securities Inc. purchased a new stake in Perficient in the 4th quarter valued at about $41,000. Finally, Park Place Capital Corp purchased a new stake in Perficient in the 3rd quarter valued at about $69,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.